Eco (Atlantic) Oil & Gas (EOG) investor relations material

Investment highlights and financial position

• Highly de-risked exploration portfolio with minimal financial exposure and strong upside potential, supported by $10M in cash and additional receivables from multiple sources.

• Portfolio diversified across four high-potential basins: Namibia, Guyana, South Africa, and the Falklands, with partnerships involving BP, TotalEnergies, Qatar Energy, and Navitas Petroleum.

• Farm-downs and carried wells provide non-dilutive funding, maintaining a low annual burn rate of ~$3.5M.

• Recent transactions include significant farm-outs and asset acquisitions, ensuring full funding for key exploration programs.

• Market capitalization stands at £175M as of July 2026, with a strong free float and insider ownership.

Portfolio and strategic partnerships

• Exposure to high-impact exploration catalysts in Guyana, Namibia, South Africa, and the Falklands, with multiple paths to monetization.

• Strategic framework with Navitas Petroleum accelerates offshore exploration and development, focusing on Guyana and South Africa.

• Navitas brings technical, operational, and financial expertise, with options for further asset acquisitions and joint ventures.

• Portfolio consolidation and rationalization of non-core interests enhance risk-adjusted returns.

• Ongoing evaluation of new venture opportunities alongside strategic partners.

Key operational catalysts and basin updates

• Namibia: Farmed down 60% WI and operatorship in PEL 97, 99, and 100 to BP, with BP funding exploration and seismic surveys planned for 2026.

• South Africa: Farmed down 37.5% WI and operatorship in Block 1 CBK to Navitas, with full carry through exploration; Block 3B/4B farmed down to TotalEnergies and QatarEnergy, fully funded for two exploration wells.

• Guyana: Proven petroleum system with two discoveries; ongoing appraisal and heavy oil analysis, with production start expected in 2029.

• Falklands: Acquisition of JHI and partnership with Navitas for PL001, targeting a 2027 exploration well and adjacent to the major Sea Lion discovery.

• Multiple near-term milestones include seismic surveys, drilling campaigns, and license developments across all basins.